Reciprocating Pumps Market Size, Share & Trends Analysis Report By Type (Piston Pumps, Diaphragm Pumps), By End-use (Agriculture, Power Generation), By Region, And Segment Forecasts, 2024 - 2030

Reciprocating Pumps Market Size, Share & Trends Analysis Report By Type (Piston Pumps, Diaphragm Pumps), By End-use (Agriculture, Power Generation), By Region, And Segment Forecasts, 2024 - 2030

Reciprocating PumpsMarket Growth & Trends

The global reciprocating pumps market size is anticipated to reach USD 11.7 billion by 2030, exhibiting a CAGR of 5.1% from 2024 - 2030, according to a new report by Grand View Research, Inc. The expansion of industries such as manufacturing, chemicals, and wastewater treatment is fueling the growth of the reciprocating pumps industry. These pumps play an important role in generating high-pressure fluid. These highly pressurized fluids are then further utilized in hydraulic systems and manufacturing operations. Reciprocating pumps are categorized as positive displacement pumps capable of displacing a consistent volume of fluid at elevated pressures.

The reciprocating pumps rely on back-and-forth motion of a piston, plunger, or diaphragm to substantially elevate fluid pressure, facilitating the transfer of fluids from one location to another. In the oil and gas industry, the American Petroleum Institute (API) has set up the standards for various equipment being used, including pumps. API Standard 674 covers standards and guidelines for the positive displacement reciprocating pumps. Furthermore, the Hydraulic Institute, the global authority on pumps and pumping systems, has been providing guidelines & standards regarding the pumps. The ANSI/HI 6.1-6.5 standards cover various aspects of reciprocating power pumps, including their design, operation, and testing.

The market is characterized by intense competition, with most companies continuously increasing their investments in research and development. Moreover, key players follow strategies such as facility expansion, mergers, acquisitions, and introduction of new products in the market. The future market is being shaped by changing demands in end-use industries, such as a growing emphasis on energy efficiency and sustainability. Leading market participants are designing pumps that are more energy-efficient and have a lower carbon footprint. These innovative pumps are equipped with variable frequency drives (VFDs) to enhance pump speed and flow control capabilities.

Reciprocating Pumps Market Report Highlights

• Based on type, the diaphragm pump segment held the largest revenue share of 57.6% in 2023. A diaphragm pump employs a diaphragm composed of flexible materials such as rubber or plastics to convey fluids instead of rod & piston assembly
• In terms of end-use, the oil & gas segment held the largest revenue share of 24.2% in 2023. Reciprocating pumps are effectively employed in the oil and gas industry for tasks such as upstream exploration and production (ExoPE) of hydrocarbons
• The Asia Pacific region held the largest revenue share of 40.1% in 2023 due to growth in agriculture, chemical & food processing industries. Furthermore, increased government expenditure in water treatment and construction sector is expected to drive the market growth
• The Middle East and Africa region is anticipated to grow at the second fastest CAGR of 5.6% over the forecast period, owing to the rising oil production in the well-developed oil & gas industry
• In August 2023, LEWA GmbH launched new pump sizes for diaphragm metering pumps, which are designed to cater to the needs of the chemical industry, food industry, and oil & gas industry. These new pump sizes can handle flow rates up to 1000 l/h

Please note The report will be delivered in 4-8 business days upon order notification.